Oil & Gas Agreements School

Euromoney Learning Solutions

How long?

  • 5 days
  • in person

Euromoney Learning Solutions

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About the course

Get a wealth of experience in the legal & commercial issues in oil & gas

The complexity of the oil and gas industries frequently results in projects being undertaken by joint ventures, alliances and other strategic groupings. Forming a successful alliance, whatever its format, is a complex process requiring a high degree of experience and expertise.

At this school Dennis Stickley, an international legal expert in petroleum law , will discuss with participants why parties come together in a cooperative endeavour to undertake a phase of a project, the legal forms they might use in so doing, the relationships created by the forms and the principle legal and commercial issues that affect those relationships.

The school will prove invaluable to CEOs, COOs and CFOs engaged in major new, ongoing and potential ventures in the oil and gas sector, and also to their internal and external legal advisers.

How this course will help you

The course will cover:

  • The contract matrix in the oil & gas industry
  • Key agreements and examples of those agreements
  • The relationship matrix from a contractual and a corporate perspective
  • The legal principles that shadow relationships
  • Specific issues affecting relationships

Agenda

Day 1

Fundamentals of International Petroleum Contracts

  • Petroleum Industry’s Business Model
  • Role of Contracts in the Hydrocarbon Chain
  • Contracting Parties
  • Industry Risk & Uncertainty
  • Substitutes for Performance & Liability
  • Contract Stability & Adjustments
  • Administrative Contracts
  • Governing Law
  • Natural Gas Terms
  • Force Majeure

Exercise: How to Analyse a Contract

  • Commercial, Technical, Liability, Administrative
  • Conditions, Covenants & Warranties

Economics, Finance & Insurance

  • Spreadsheet Analysis
  • Evaluation of Fiscal Systems
  • Reserve Based Financing
  • Financial Instruments
  • Insurance

Exercise: Commercial “Yardsticks’

  • Internal Rate of Return
  • Pay-out Period
  • Addition of Reserves

Day 2

Granting Instruments

  • Leases, Licences, Production Sharing. Risk-Service
  • Fractional Interests, Working, Carried, Revenue, Carve-Outs
  • Farm-in / Farm-out Agreements
  • Enhanced Production Agreements
  • Transfer of Late-life Assets
  • Acquisitions
  • Assignment of Interest
  • Share Transfers & Change of Control

Exercise: Due Diligence in Share Transfer

  • Right of First Refusal
  • Consents & Approvals
  • Post-closing Adjustments   Day 3

  • Operating Agreements

  • Stages & Operations

  • Joint Ventures

  • Management of Operations

  • Role of National Oil Company

  • Drilling Contracts

  • Service & Supply Contracts

  • Engineering, Procurement, Installation & Commissioning

  • Lifting & Balancing

  • O&M Contracts

  • Unit Operations

  • Abandonment & Removal

Exercise: Default on Joint Venture Cash Call

  • Management Committee
  • Impact on Defaulting Party

Accounting & Auditing

  • Accounting Procedures
  • Right to Audit

Exercise: Audit of JV Operator

  • Audit Procedure
  • Materiality & Exceptions

Day 4

Storage, Processing & Transportation

  • Crude Oil Storage & Lifting Agreements
  • Quality Banks
  • Stand-alone Processing Facilities
  • Gas Transportation Agreements
  • Balancing Obligations
  • Nomination & Scheduling
  • LNG Shipping Agreements
  • Floating Storage & Regasification
  • Multi-User LNG Terminals

Exercise: Third Party Access

  • Access Regime
  • Access Agreement

Day 5

Sales & Marketing

  • Sales of Goods Law
  • Selling Agents
  • Delivery
  • Quality Specifications
  • Measurement & Testing
  • Crude Sales
  • Natural Gas Sales & Purchase Agreement
  • LNG: Long-term, Master Sales, Spot Cargo

Exercise: Pricing

  • Crude Oil
  • Natural Gas
  • LNG

Dispute Resolution

  • Sources of Disputes
  • Alternative Dispute Resolution
  • Forum & Rules
  • Sovereign Immunity

Exercise: Post-Award Considerations

  • Collateral Attacks
  • Enforcement of Awards

Experts

Dennis Stickley

Dennis is an international legal expert in petroleum law who is based in United Kingdom. He is a qualified lawyer in the United States as well as UK and New Zealand and has been listed in the Guide to the World’s Leading Energy and Natural Resources Lawyers. He has received the degrees of Juris D...

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Oil & Gas Agreements School at Euromoney Learning Solutions

From  GBP 4 895$6,907
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Disclaimer

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